President Donald Trump has called off efforts to arrange a meeting with President Xi Jinping after China tightened export controls on rare earth minerals this week. <\/p>\n
‘Some very strange things are happening in China!’ Trump wrote on Truth Social. ‘They are becoming very hostile, and sending letters to Countries throughout the World, that they want to impose Export Controls on each and every element of production having to do with Rare Earths, and virtually anything else they can think of, even if it\u2019s not manufactured in China.’<\/p>\n
‘We\u2019ve never seen anything like this,’ Trump added. <\/p>\n
‘One of the Policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America. There are many other countermeasures that are, likewise, under serious consideration.’<\/p>\n<\/p>\n
The president said his relationship with China over the past six months has been ‘very good’ and called the crackdown on exports ‘surprising.’ <\/p>\n
‘I have always felt that they\u2019ve been lying in wait, and now, as usual, I have been proven right!’ he added. <\/p>\n
The administration had suggested Trump might meet Xi at the Asia-Pacific Economic Cooperation summit later this month in South Korea, but ‘now there seems to be no reason to do so,’ he said.<\/p>\n<\/p>\n
Over the past few decades, China has captured a dominant position in the rare earth minerals and magnets industry and now uses that control \u2014 vital for electronics worldwide \u2014 as political leverage.<\/p>\n
‘There is no way that China should be allowed to hold the World \u2018captive,\u2019 but that seems to have been their plan for quite some time, starting with the \u2018Magnets\u2019 and, other Elements that they have quietly amassed into somewhat of a Monopoly position, a rather sinister and hostile move, to say the least,’ Trump added. <\/p>\n
The world\u2019s two largest economies have been locked in trade negotiations for months, imposing tit-for-tat tariffs on each other.<\/p>\n
China announced Thursday it is expanding export controls on five additional rare earth metals \u2014 holmium, erbium, thulium, europium and ytterbium \u2014 adding to the seven restricted in April.<\/p>\n
China also restricted exports of technology used to refine rare earth minerals.<\/p>\n<\/p>\n
China cited national security concerns for the restrictions. ‘Rare-earth-related items have dual-use properties for both civilian and military applications. Implementing export controls on them is an international practice,’ a Chinese Ministry of Commerce spokesperson said.<\/p>\n
Rare earth metals are essential for both commercial goods \u2014 including electric cars, household appliances, lithium batteries and camera lenses \u2014 and critical to the U.S. defense industry.<\/p>\n
Rare earths are also used to produce semiconductors vital for artificial intelligence processing.<\/p>\n
As of 2024, China mines about 60 percent of the world\u2019s rare earth minerals and processes nearly 90 percent, according to the Center for Strategic and International Studies.<\/p>\n
The Trump administration has invested heavily in domestic rare earth mining and processing to reduce U.S. dependence on China.<\/p>\n<\/p>\n
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